Ferguson Wellman Capital Management Inc. Buys Shares of 255,584 BHP Group Limited Sponsored ADR $BHP

Key Points

• Ferguson Wellman Capital Management opened a new position in BHP Group during the first quarter, buying 255,584 shares valued at about $18.6 million.
• Other institutional investors also increased or adjusted their BHP holdings, and institutions now own 3.79% of the company’s stock.
• BHP shares rose 2.2% to $81.69, while analysts currently rate the stock a Moderate Buy with an average price target of $69.50.

Ferguson Wellman Capital Management Inc. purchased a new position in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 255,584 shares of the mining company's stock, valued at approximately $18,591,000.

Several other large investors have also modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of BHP Group by 1.3% in the 4th quarter. Parallel Advisors LLC now owns 12,039 shares of the mining company's stock worth $727,000 after purchasing an additional 150 shares during the last quarter. Bailard Inc. boosted its stake in BHP Group by 1.4% during the fourth quarter. Bailard Inc. now owns 12,395 shares of the mining company's stock valued at $748,000 after buying an additional 174 shares in the last quarter. Addison Advisors LLC raised its position in BHP Group by 31.8% in the fourth quarter. Addison Advisors LLC now owns 751 shares of the mining company's stock worth $45,000 after acquiring an additional 181 shares in the last quarter. AlTi Global Inc. lifted its stake in BHP Group by 5.3% during the fourth quarter. AlTi Global Inc. now owns 3,976 shares of the mining company's stock valued at $240,000 after purchasing an additional 200 shares during the last quarter. Finally, Traveka Wealth LLC increased its holdings in shares of BHP Group by 4.1% in the first quarter. Traveka Wealth LLC now owns 5,078 shares of the mining company's stock valued at $369,000 after buying an additional 201 shares in the last quarter. Institutional investors own 3.79% of the company's stock.

BHP Group Stock Up 2.2%

Shares of NYSE BHP traded up $1.78 during mid-day trading on Friday, reaching $81.69. 1,460,790 shares of the company traded hands, compared to its average volume of 2,514,666. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65. The company's fifty day moving average is $85.28 and its two-hundred day moving average is $76.13. BHP Group Limited Sponsored ADR has a fifty-two week low of $49.68 and a fifty-two week high of $93.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BHP shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of BHP Group in a research note on Thursday, July 2nd. Zacks Research raised BHP Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 23rd. Argus set a $95.00 target price on BHP Group in a report on Monday, April 27th. Berenberg Bank upgraded shares of BHP Group from a "sell" rating to a "hold" rating in a report on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of BHP Group in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.50.

About BHP Group

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.

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